FT News Briefing Google hit with another antitrust case, Brexit fears lead to stockpiling, Fed stress tests
Dec 18, 2020
A coalition of U.S. states has launched a significant antitrust challenge against Google's search engine, spotlighting the tech giant's monopolistic practices. Meanwhile, Brexit has spurred UK companies into a frenzy of stockpiling, leading to traffic chaos in southern England and France. On the financial front, insights into the Federal Reserve's bank stress tests reveal how resilient U.S. banks are amid pandemic pressures, contrasting their current strength with challenges faced during the 2008 financial crisis.
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Google Antitrust Cases
- Google faces multiple antitrust lawsuits from state attorneys general and the DOJ.
- These lawsuits target Google's search engine and advertising monopolies.
Brexit Stockpiling
- UK companies stockpile goods due to Brexit uncertainty, causing congestion.
- This is driven by fears of supply chain disruptions after the Brexit transition ends.
Fed Stress Tests
- The Federal Reserve assesses banks' resilience to the pandemic with stress tests.
- These tests determine if banks can withstand potential loan losses and resume capital returns to shareholders.